Member Info for Tex2374

Yes, it did happen but the company was not in the same situation as now and also you would need someone to come in and take a big chunk like Solenta did.

As I said earlier currently fjet is priced to fail so if there was an extremely compelling case to pay 6x the current SP and a big investor to stir up PI interest, then maybe.......

.... you have to admit it’s a big maybe :-)

Get the disposal done, raise any additional cash required and set yourself up as the new Cash light business! That’s the plan and that’s what the BoD have to deliver for us, they have a good plan and a good story,

++++++
The restructured Group would become a capital light business operating as a franchise house that would earn revenues through the fastjet brand and providing airline management solutions, whilst also continuing to hold its investment in the FedAir business. The Group's strategy is to focus on franchise and providing airline management solutions to additional airlines in Africa that are independently owned, enhancing its overall revenues from these. Additionally, the Group would aim to only own airlines once they were cash generative and profitable, so avoiding the initial costs and significant cash losses through the airline startup phase and from operating in Africa's sometimes uncertain trading environment.

A 1p placing.... hmm interesting. Why would anyone go for a 1p placing?

Claza, It depends on the forward looking plan the company gives and whether the financing solution for their new strategy is through the disposal or raising short term cash. Good news will see us back to 0.6 minimum IMO.

M&G position is massively reduced ( maybe now 5% or 3% or 0%) but currently irrelevant given where we are, which is:

“ The Company is still assessing its future funding requirements should the Disposal not proceed to enable it to continue as a going concern beyond 31 July 2020 and will issue an updated trading statement in the last week of June 2020.”

Tex

LOL seems some peeps can’t read an RNS or a date. Not sure why there is so much focus on M&G. This company is running out of cash, the only question is will they get a deal done to fund themselves Short term and execute their new strategy. They have two possibilities
1. Get the “disposal” done and dusted.
2. Find a new funding agreement to tide them by.

As the company has stated, cash runs out at the end of the month.

The current SP has priced the business to fail, therefore it we get the RNS that funding is secured then the SP will multi bag from here. This is the gamble, high risk and high reward.

Any other points of discussion are a distraction.

I hope for a Monday RNS as Friday ones aren’t always great!

Tex

:-)

Happy days. May deserve cracking open a bottle red tonight.

13x av volume,

Flying! This will make good viewing tonight. 8x av volume now.........

0.40 may be challenged this week....

Break free if you are invested as you say you are, then you are the biggest fool on the board.

Why would you have any money in this share if you are convinced it is going under LOL.

I think there is a reasonable chance they stay up and running, so worth a punt for me. You seem to have invested in a share you know is going under! What’s your average?

There is only a delay if there was an expected date of completion by the end of June. I don’t see reference to a delay.

Previously, people were questioning if there were really interested parties. No one does a site visit for fun so this is confirmation that there are a lot of interested parties.

Also, you don’t shortlists if there aren’t any viable proposals on the table.

Tex

Looks like imminent news and update. Leaky leaky

Shares have been collected over the last couple of days and now we start to move back up.

Exciting times.

Our Pitombeiras North resource drilling programme continues to reassure. Our recent positive Davis Tube Recovery results demonstrate the amenability of ore to conventional magnetic separation

We have very supportive local and state governments with an established infrastructure

Update is due by month end. I would expect to see something Monday morning. Interesting few days ahead! GLA

Tex

LOL. ...

Latest tweet just now reconfirming the position.

Upon receipt of assay results for the remaining seven drillholes at the Pitombeiras North resource drilling programme, we will have sufficient data to determine an initial JORC resource estimate...

...These activities will be funded from existing cash resources.

For me it seems an interesting time to jump aboard. From my limited understanding, the RNS spells out the answers to the questions being asked.

The Blyvoor Gold Project - Working capital now allows the Company to negotiate better financing terms.
The Haneti Polymetallic Project - Capital allows the company to undertake an extended drill program. I assume this will be to maximise the 'intrinsic value' of the project, basically let's make it more appealing.

Seems as though all 3rd parties are engaged still and news flow is expected soon.

20% hit on the share price is nothing given the market cap and potential from a positive engagement around either project.

Just my view from 10 minutes reading :-)

I'm in, worth a punt in my books. Lot of news in the pipe, in the short term, plus an oversubscribed placing is generally a good thing.

Tex.

Seems to be holding up ok.

Time to switch off and check back later.

Hold tight people and take some deep breaths .......

Share price is going to be all over the place. Expect a bouncy day!

Auction 8.5 now

People could be very surprised where we end the day.

Yes, initial carnage and then a good bounce. Traders will be all over this, right major?

If you are selling, make sure you maximise your exit and don”t give cheap shares to the one day trading crew. For those staying around, good top up opp about to present itself.

I guess the question for investors is, do you think the below will add incremental value to the Company? Hmmmm let me think.......

The Directors intend to use the net proceeds of the Fundraise of a minimum of £10 million to complement funding commitments already made by British Airways and Shell as follows: (i) to further strengthen its intellectual property and trade secrets protection, working capital and central costs for up to one year; (ii) to complete the process engineering phase of FEED for the Altalto Immingham Project until the first quarter of 2021; (iii) to complete the fund raising for the Mississippi Bio-refinery Project and launch the associated FEED; (iv) to evaluate and design a de-bottlenecking of the reactor core manufacturing line in the United States to reach a production capacity of more than 12 Fischer-Tropsch reactors per year (twice the current capacity); and (v) to implement learnings from a post-operative analysis from the demonstration reactors for the benefit of our clients via updated operating manuals and training

We will get the results tomorrow, per the schedule in the RNS.

Wow. £8m gone in about 5 hours. There’s a vote of confidence for the company.

I might revise my outlook for tomorrow, we could see a better day than expected by most :-)

For those who missed out there will be excellent top up opportunities first thing, before come semblance of normality returns.

Tex